Several sources of low-interest (or no-interest) loans are available to members of the military to help them pay emergency expenses. These are alternatives to the high-cost payday lenders that have traditionally targeted military personnel.

Loans are usually limited to about $1,000 and are approved on a case-by-case basis. You generally must provide information about the bills you have trouble paying or other documents showing the urgency of your need. Loans are typically made to help with essential home repairs, car repairs, security deposits when moving, disaster relief, food, rent, mortgage payments, medical costs or funeral expenses. Before receiving a loan, you usually meet with a caseworker, who can also work with you to establish a budget and help stabilize your finances.

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Military credit unions are another good source. They often offer short-term loans at reasonable interest rates, and some even offer small emergency loans to members of the military with a quick or even no credit check.

And you’re right -- the law did crack down on high-cost payday lenders, which used to line the streets near military bases. The Military Lending Act of 2007 caps interest on many of these loans to members of the military at 36% (before then, some lenders were charging more than 400% interest). But the law does have some loopholes -- it applies only to closed-end loans of $2,000 or less with a term of 91 or fewer days -- so some lenders have been offering high-interest loans with longer terms, loans of larger amounts or loans without fixed ending dates.